Mesoblast (ASX:MSB) completes $138 million private placement

Mesoblast (ASX:MSB) has entered into subscription agreements for a total of $138 million private placement, led by a strategic US investor group, SurgCenter Development.

The placement was conducted through the issue of 60 million shares at $2.30 a share, a 6.5 per cent discount to Mesoblast’s closing price on Thursday.

SurgCenter Development is one of the largest private operators of ambulatory surgical centres in the US specialising in spine, orthopaedic and total joint procedures.

The company has partnered in over 230 facilities, with a current portfolio of 80 operational facilities, located in over 20 states throughout the US.

Shares in Mesoblast (ASX:MSB) are trading 0.4 per cent higher at $2.47.

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Source: Finance News Network